Leasing News

LEAF Financial Up-Date

A reader sent in a recent article from Business Week:

“LEAF Financial Corporation and Leaf Funding, Inc. Enters into an Amendment for the $100 Million Credit Agreement

“LEAF Financial Corporation and Leaf Funding, Inc. are borrowers pursuant to a $100 million credit agreement dated as of July 31, 2006 with PNC Bank, National Association. The parties thereto have entered into an amendment dated as of March 31, 2010 that extends the maturity date of the credit agreement until May 15, 2010, while the parties negotiate the terms and documentation of a longer term renewal. Under the terms of the extension the maximum borrowing limit reduces by unused capacity in excess of $25 million if created by sales of commercial finance assets to any of the LEAF sponsored investment funds.”

The above comes from the most recent SEC filing (1)

It appears PNC has extended, by another amendment, the Leaf warehouse line for 45 days, from March 31, 2010 to May 15, 2010. Amendments are needed to avoid a formal default to the main agreement. It also appears the $100M w/l capacity will be reduced further if Leaf sells assets to any of the funds over $25M. Does that mean PNC doesn’t want Leaf to have more than $25M of line capacity? The 8K report said the exact same thing with no further details.

LEAF is not the only company that has been affected by these changes as it happened to Pentech, and also in following Marlin Business Services there are similarities, and research from public records is a story in progress by Leasing News.

SEC Most recent filing:
http://leasingnews.org/PDF/RAI%208K.pdf

The Trouble with LEAF and Resource America
by Christopher Menkin
http://leasingnews.org/archives/Apr2010/4_13.htm#trouble_withleaf

Clarification---Premier Lease Services, LC, Iowa

In Monday's Article "The Trouble with LEAF and Resource America," the article did not mean to imply Premier Lease Services, L.C., Iowa was solely a "brokerage operation" not was the company purchased by LEAF; the press release originally stated LEAF purchased assets, personnel and relationships (1).

As stated in the following letter from Mike Hopson, Executive Vice President, Premier Capital Group, Inc., "“As a part of our business, we also funded many brokers throughout the United States – many which are still active today and are readers of your newsletter.” Leasing News would like to apologize to Mr. Hopson as he is correct that the sentence is misleading. The original intention was to bring up that LEAF today has moved in the direction of direct lease business, vendors, captive lessors, and franchise development. Again, Leaisng News apologizes for the mis-categorization. Hopefully the letter from Mr. Hopson will help clarify the matter.

From Mr.Hopson:

“First off let me say, I enjoy reading your newsletter and appreciate the information provided.

“I am the Executive Vice President of Premier Lease Services, LC and its wholly owned subsidiary, Premier Capital Group, Inc. I would like to provide some clarification to what I believe is your inaccuracy regarding the operation of Premier Lease Services, LC and more correctly its subsidiary Premier Capital Group, Inc., as well as my personal thoughts on the people at LEAF Financial Corporation.

“In your article today concerning LEAF Financial Corporation you stated one of LEAF’s first portfolio purchases “Premier Lease Services, L.C. of West Des Moines, Iowa July 2, 2004, a brokerage operation,”. Premier Lease Services was not a brokerage operation. We employed approximately 30 people – people with direct vendor sales responsibilities, a full credit, documentation and funding staff, accounting and servicing staff and a collection staff. We funded all of our lease originations through warehouse lines, commercial paper conduits and term securitizations. We funded and fully serviced all of our leases which we originated. We collected sales and property taxes and filed and remitted the taxes in or names. If a lease defaulted, it was (either directly or through our equity interest in the securitizations) our credit loss and not anyone else. We had many direct vendor relationships including Maytag Corporation and its distributors, Dixie Narco and its distributors, Alpine Engineering, a manufacturer of wood truss saws, many car wash distributors and other direct vendor originated business. As a part of our business, we also funded many brokers throughout the United States – many which are still active today and are readers of your newsletter. I am not sure what is your definition of a brokerage operation but it appears to be much different then my definition.

“I personally was lucky enough to have the opportunity to work with many people at LEAF – their staff was and is excellent. I was involved and worked directly with Crit DeMent, Miles Herman, Dave English, Nick Capparelli, Robert Moskovitz, and many other great people at LEAF – all extremely hard working and incredibly bright individuals. I have nothing but the upmost respect for these individuals, the LEAF organization and its employees. I certainly wish them nothing but good luck and the best in the future.”

Mike Hopson
Executive Vice President
Premier Capital Group, Inc.
800-666-6811, ext 101
515-698-9699 (fax)
515-480-0375 (cell)
2670 106th St., Suite 200
Urbandale, Iowa 50322

(1) Resource America's LEAF Financial Acquires the Business of Premier Lease Services, L.C.
http://www.leasingnews.org/archives/July%202004/07-02-04.htm#resource

The Trouble with LEAF and Resource America
by Christopher Menkin
http://leasingnews.org/archives/Apr2010/4_13.htm#trouble_withleaf

Rudy Trebels Back in Business

Rudolph “Rudy” Trebles, CLP, former founder of IFC Credit Corporation is back in business.

(Archive photo, reportedly Rudy has shaved off his mustache)

"Often times, a lessor is interested in the quick transaction of a related product. Not at ELGA. We view the signing of a lease as the beginning of a long-term relationship, not the end."
www.elgallc.com.

IFC Credit, in bankruptcy, has moved to a new office. They are at 191 Waukegan #315 in Northfield IL right next to Rudy Trebels, CLP, new office at 181 Waukegan #103 in Northfield. A creditor reported to Leasing News they had a large dumpster that was filled with tons of office assets that could have been sold for money to help the bankruptcy. Also, the creditor told Leasing News they shredded a lot of files that could have been important documents for the courts.

In the meantime, leases that have ended have gone from an original $1.00 to “fair market value” in several instances, with claims that the security deposit could be used against the “fair market value” instead of being returned.

Another such transaction was the “security deposit” not returned to the discounter to return to the lessee or to be utilized in a purchase option. The bank took over the payments only, and at the end of the term, the discounter could lay claim to the purchase option, but also had the responsibility of the “security deposit.”

Warehouse Lender List & “Funding Advisor”
Bruce Kropshot from ELFA Funding Conference

(To apply to be listed as offering warehouse loans to leasing companies, please use the form below and fax to 408.374.3843 or you may e-mail to: kitmenkin@leasingnews.org.)

http://leasingnews.org/Pages/WarehouseLender_form.doc

It should be noted that there has been no lender who has responded, although over a dozen readers have filled out the form as they believed it was to obtain a warehouse line. Sorry, Charlie.

There are also individuals who arrange such loans such as Bruce Kropschot or Ron Lear. One of the leaders in leasing lines was PFF Bank & Trust which offered warehouse lines for over 10 years, having outstandings in excess of $100 million. PFF was also extremely active in real estate developments throughout the Inland Empire and with the recession, failed. The FDIC seceded PFF.

Leasing News Advisory Board member Bruce Kropshot suggest a list and calling it “Funding Advisor”

“I am in Chicago at the ELFA Funding Conference and talking with funders about several active funding advisory client assignments I am working on. For the most part, these are searches for permanent funding relationships and not warehouse lines. The mood at the conference is more positive than last year, and attendance is surprisingly good - nearly 400 as compared to slightly more than 300 last year.”

Bruce Kropschot, President
Kropschot Financial Services, a member of The Alta Group
2352 Clearwater Run
The Villages, FL 32162
(352) 750-3588
www.kropschot.com
www.thealtagroup.com

(To apply to be listed, please use the form below and fax to 408.374.3843 or you may e-mail to: kitmenkin@leasingnews.org.)

http://leasingnews.org/Pages/FundingAdvisor.doc

Warehouse Loans---Part II---How to
by Christopher Menkin

First, these types of loans are difficult to obtain. The first thing to get over is that sales will attract such a relationship. In reality, getting sales is relatively easy to the entire process. The key is knowing who accepts what type of credit, equipment and situation, meaning sitting on the other side of the desk, looking at the process from this view, not a "sales view."

Perhaps most important for a warehouse loan is the operation view. Without a good operation staff, you will fail to climb up the ladder in obtaining more credit. You also may lose money as warehouse loans are dangerous with many pitfalls and problems, meaning if your operation staff is not on top of the paperwork, the billing process, the collection process, the correct procedure, forget going this route completely. It does not start with sales, it starts with having a top notch operation staff. You want people who are smarter than you running and doing this work.

All warehouse loans to start off with are full recourse, dependent on you and the collateral offered. In all the warehouse loans I have had the lender holds title to your personal and business assets, and often other collateral, in addition to the actual lease where progress payments are made. This include viewing the approval from the funder, meaning the "take out" when this "construction loan" is completed.

There are lines that allow you to make the credit decision in advance of getting a full approval, but they are generally secured in other means, such as a million dollar warehouse loan I had with Merrill Lynch secured with mostly bonds that they held in their name from the stock account.

It did not start out that way, and at times I have had three or found bank warehouse loans as early on I learned not to have one bank. When Crocker cut off all leasing companies in 1974 it almost put me out of business, but was able to work out a recourse and non-recourse line with Wells Fargo, where they approved or declined the transaction, secured by a partner's signature, who earned 50% of the profit, less a management fee for seven years. He and I are good friends to this day.

First, all warehouse lines are on a variable rate, and are basically like a 90 day note that gets renewed. With experience, they may get renewed every six months or each year, the most common when the bank is comfortable with the arrangement. Often there are points in addition to the interest; both are negotiable. As noted, they are generally renewed yearly with full financial statements and tax returns.

It is best to start out small with a community, local bank, where you meet the loan officers, and perhaps even the president of the bank. You may even educate them into discounting lease contracts on a non-recourse basis, as well as having the lessee move their business account to the bank. Many businesses would like a better bank relationship then they presently have.

You should have a bank account at the bank, and keep as much cash as you can there as that will also be rated in your relationship. But be aware bank policies change, banking officers move on to larger banks, and larger banks buy out smaller banks.

As you manage that line and the bank becomes more comfortable withyour responsibilities, you may get the ability to increase the line of credit. It is best to keep all recourse and warehouse lines for local business, meaning you can drive to their office within an hour. If you grow larger, start a relationship with a second bank, not giving up on your first one, for the geographic area you would like to include. At one time, I had three $500,000 warehouse lines of credit with the ability to accede them when necessary for a specific project. None of these leases were for the period of the actual lease, but solely for the interim rent time period until the transaction was finally funded.

Don't worry about the bank holding the original contracts, as my experience in these types of situations there are always changes before completion which require the signing of a new contract (although some funders do allow a form to change the original contract, I always preferred to have all the documents resigned.

If you are bringing good credits, behaving, and as important, bringing new bank customers, you will find the bank referring business back to you from their present customers who exceed their lines or are looking for a leasing product.

First, you need to outline how your company works, and outline the process. It basically is similar to what funders have sent to you in how to fund with them. Change the name to your name and adjust it so a local bank will understand how it works. And it is to your benefit to tell the truth. "I took this from Bank of the ******. This is how they work. They are the banks documents used in the private label process and their guidelines."

You may want to add your own, from idiosyncrasies that you have learned. In my instance, I always checked out the vendors in the process of progress payments, as if they were the lessee. As if you give a 50% down, you want to make sure the vendor delivers as you are full recourse on this. Never pay interior decorators direct; rare that you want to do this.

You need to make this so simple that a beginning credit officer will understand everything. Perhaps run it by a banking friend first to get their reaction and suggestions of what they don’t understand and therefore you need to include or make more clear.

The more you can put down about your staff and their role, the more comfortable the bank will feel. Start small. $50,000, $100,000, and if you handle it right, you will be up to $500,000 before you know it, looking for another bank line.

It is also a good idea to have your attorney review it. If you don’t have an experienced leasing attorney, another sign a warehouse line is not for you. And if spending a $1,000 for an opinion about your documents is too much money, stick to the brokerage operation, being a lessor is not for you. You will miss out on making some real money, building your net worth, and perhaps building a company that can work without you being present.

Again, don’t view the line as “working capital” or delay taking out of the line when the lease is funded. This is a very dangerous situation not only for the bank, but an extremely bad habit to gamble and fall in easily to the trap of depending on the line for this purpose.

There are also forms you can development for "master leases" and procedures, perhaps to be covered in a future article.

If there are any readers who want to contribute their experiences or recommendations, please share with readers.

Sales makes it Happen

by Mr. Terry L. Winders, CLP

Marketing Ideas

There are many ways to reach your chosen market provided you have a chosen market. Too many lessors’s shot gun their efforts instead of selecting a few markets in which they can be a player. To you begin with you should create a budget for marketing and then begin to select what marketing aids fit into your budget or how you can accomplish reaching your market the least expensive . Some lessor’s spend a lot of money on mailers, brochures, and lunches. None of which is very productive. A simple one page statement in a hand out form is much better than a glossy brochure. Mailers are a waste of money and lunches only feed salespersons ego.

If you know a lot about lease accounting, or more appropriately lease classification, then one of the most produce presentations you can do is to establish a morning program to teach lessee accounting classification to accountants for CPE (continuing professional credit). Advertising in the local accountant’s newsletter is the best way to reach them. If you approach the accounting authorities in each state and explain the purpose of your training and provide then with a copy of the handouts, then usually for a small fee they with authorize you to offer the CPE credit. You would be shocked at how many accountants do not understand lease classification. Once they learn from you they tend to send their clients to you for lease financing. The seminar may not be an advertisement for your services but your name and company is well provided. Best month for this is September. If you cannot teach it yourself call me and I will help you.

I am sure you have attended trade shows to try and pick up vendors. It would be better to call the organizers of the trade show and offer to provide a break out session, for free, on the benefits of commercial equipment leasing. They usually like free seminars during the show if they have a room for it. You may want to contact the location that houses a lot of trade shows to determine what shows are coming and how to get in contact with the organizers. But be sure that they know it is not to sell your company, but just to inform the participants and give them a chance to ask questions, of the experts, on how leasing works. If they think it is just a commercial for you they will turn you down.

In Addition your favorite vendor may wish you to offer a breakfast for their customers to explain how leasing works. Occasionally you should offer to provide training for their sales staff or have a golf outing or a poker tournament with your people in attendance to get their sales staff familiar with all of your company staff. The closer you get to know each other the better your relations and you get over the rough spots much easier.

Get a commercial industry guide for each state you want to reach and look for industries that are local and inside your marketing foot print. I have developed markets this way such as, marinas, woodworking, packaging, street lights, church organs, delivery vans, mortuaries, portable crematories, Kennels, caterers, steel buildings, lighting, Golf Courses and many more. There are a lot of new industries if you would just get out of your car and walk through an industrial park and visit each business.

Always identify your average transaction size so you have a set of parameters to determine where to spend your marketing budget. It needs to be directed at a market that you have some chance of becoming a known entity. Success is not measured by each transaction but how you control a large piece of a given industry. Multi state customers can increase all of your costs so try and stick close to home with all your marketing expenditures. Local vendors for local people are the way to go!

Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty years and can be reached at leaseconsulting@msn.com or 502-327-8666.

He invites your questions and queries.

Previous #102 Columns:
http://www.leasingnews.org/Conscious-Top%20Stories/Leasing_102/Index.htm

Little Rock, Ark.

Meet and learn from Mr. Terry Winders, CLP

Leasing #102 columnist for Leasing News,
long time educator and trainer

Sales and Operations
click here for course information and to register

June 9, 10, until Noon on the 11th
Little Rock, Arkansas
Hosted by Arvest Equipment Finance

$395.00 Paid in Advance for first person from company
$345 with each additional attendee

"Certified Leasing Professionals attending this seminar will earn CPEs (Continuing Professional Education)
Credits toward their recertification"

(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Mr. Terry Winders, CLP)

Beige Book---It's still Beige

While other business activity was up, and optimism seem to outshine any pessimism, the FDIC still sees the banking industry not out of trouble, reporting:

"Credit standards remained generally unchanged across the nation, while credit quality was mixed. New York, Cleveland and Kansas City reported tighter lending standards for commercial mortgages. In Atlanta several business contacts reported difficulty getting credit. Dallas and San Francisco said standards continued to be tight. New York saw increased delinquency rates for all categories except consumer loans, which were flat. Philadelphia and Richmond saw little change in credit quality, while Cleveland was mixed. Dallas reported that credit quality was either stabilizing or improving, and appeared to have turned a corner. Chicago noted an improvement in consumer and business loan quality, although credit quality for many small firms continued to decline."

Boston
http://www.federalreserve.gov/fomc/beigebook/2010/20100414/1.htm

New York
http://www.federalreserve.gov/fomc/beigebook/2010/20100414/2.htm

Philadelphia
http://www.federalreserve.gov/fomc/beigebook/2010/20100414/3.htm

Cleveland
http://www.federalreserve.gov/fomc/beigebook/2010/20100414/4.htm

Richmond
http://www.federalreserve.gov/fomc/beigebook/2010/20100414/5.htm

Atlanta
http://www.federalreserve.gov/fomc/beigebook/2010/20100414/6.htm

Chicago
http://www.federalreserve.gov/fomc/beigebook/2010/20100414/7.htm

St. Louis
http://www.federalreserve.gov/fomc/beigebook/2010/20100414/8.htm

Minneapolis
http://www.federalreserve.gov/fomc/beigebook/2010/20100414/9.htm

Kansas City
http://www.federalreserve.gov/fomc/beigebook/2010/20100414/10.htm

Dallas
http://www.federalreserve.gov/fomc/beigebook/2010/20100414/11.htm

San Francisco
http://www.federalreserve.gov/fomc/beigebook/2010/20100414/12.htm

Full report
http://www.federalreserve.gov/fomc/beigebook/2010/20100414/FullReport.htm

(Leasing News provides this ad “gratis” as a means
to help support the growth of Lease Police)

Fernando’s View
By Fernando F. Croce

New releases offer lessons in both history (“The Secret in Their Eyes”) and mythology (“Clash of the Titans”), while DVD releases go big (“Avatar”), small (“Summer Hours”) and in-between (“The Lovely Bones”).

The Secret in Their Eyes (Sony Pictures Classics): One of this year’s surprise Oscar upsets, this Argentinean drama beat out more high-profile films and took home the Best Foreign Language Film trophy. It tells the story of Benjamin (Ricardo Darin), a judge who, after his retirement, decides to write a novel about the crime case that has haunted him for decades. The book gradually turns into a private investigation that involves the woman he’s long been secretly in love with, a vengeful husband, and even a criminal who may or may not be the murderer. Mixing past and present and fact and fiction, director Juan Jose Campanella offers a blend of suspense and history lessons that may remind viewers of another Oscar-winner, “The Lives of Others.” With subtitles.

Clash of the Titans (Warner Bros. Pictures): The 1981 mythological fantasy gets a 3-D makeover in this fast-moving adventure directed by action specialist Louis Leterrier (“The Transporter”). Taking place in the ancient Greece of gods and monsters, it follows Perseus (Sam Worthington), the son of Mount Olympus head Zeus (Liam Neeson), as he struggles to save his family from the marauding forces of evil. The friends and foes he meets along the way include the beautiful Andromeda (Alexa Davalos), the wicked Calibos (Jason Flemyng), and the dreaded, snake-haired Medusa. Combining old-fashioned wonder with brisk thrills, the film should please fans of the original as well as action aficionados of the “300” mold.

Netflix tip: Impressive as the 3-D technology of the “Clash of the Titans” remake is, it can’t compare with the heartfelt, handmade stop-motion effects of the original, made by Ray Harryhausen. As a tribute to this legendary visual whiz, use your Netflix queue to check out some of his still-marvelous achievements, which include “Mighty Joe Young,” “Earth vs. the Flying Saucers,” and “The 7th Voyage of Sinbad.”

New on DVD:

Avatar (Fox Searchlight Pictures): Ending a 12-year big-screen hiatus following the success of “Titanic,” director James Cameron returns with this exciting and visually enthralling fantasy-adventure. The story follows the exploits of a wounded former Marine named Sully (Sam Worthington) who, as part of an experiment in new technology, finds himself in contact with the strange inhabitants of a planet named Pandora. At first enemies, the hero and the aliens grow a mutual respect that makes Sully question the goals of his own superiors back on Earth. Which side will he take when the battles start? Taking full advantage of cutting-edge special effects but never forgetting the importance of plot and characters, Cameron manages to create a spectacle that’s thrilling throughout its almost three-hour running time.

The Lovely Bones (DreamWorks Pictures): After dealing with magical wizards and giant apes, director Peter Jackson (“The Lord of the Rings,” “King Kong”) switches from the epic to the intimate in this adaptation of Alice Sebold’s best-selling novel. Set in the 1970s, it tells the tragic tale of Susie Salmon (Saoirse Ronan), a 14-year-old girl whose life is cut short by an encounter with a killer (Stanley Tucci). While her parents (Mark Wahlberg, Rachel Weisz) mourn her, the girl’s soul continues to watch the actions of her family (and of her murderer) from a cosmic abode. Will she be able to reach Heaven, or will unfinished business bind her to this purgatory? Jackson mixes disturbing and poignant effects, but it’s Ronan’s performance that anchors this visually arresting fairy-tale.

Summer Hours (Criterion): Long known for edgy, dark projects like "Demonlover" and "Boarding Gate," French director Olivier Assayas reveals his humanistic side with this warm and wise family drama. The story deals with three siblings, designer Adrienne (Juliette Binoche), professor Frederic (Charles Berling) and businessman Jeremie (Jeremie Renier), who bond and clash while dealing with their mother's (Edith Scob) death and the house that has so many of their memories. Without every succumbing to easy sentimentality, Assayas creates a graceful web of relationships, in which characters who have become disconnected from their roots try to come together and an increasingly global new order is revealed. This moving film was one of last year's best imports. With subtitles.

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1920 - Two security guards are killed during a mid-afternoon armed robbery of a shoe company in South Braintree, Massachusetts. Out of this rather unremarkable crime grew one of the most famous trials in American history and a landmark case in forensic crime detection. Police did manage to catch Boda's colleagues, Nicola Sacco and Bartolomeo Vanzetti, who were each carrying loaded weapons at the time of their arrest. Sacco had a .32 caliber handgun-the same type as was used to kill the security guards-and bullets from the same manufacturer as those recovered from the shooting. Vanzetti was identified as a participant in a previous robbery attempt of a different shoe company. Sacco and Vanzetti were anarchists, believing that social justice would come only through the destruction of governments. Sacco and Vanzetti were found guilty and sentenced to die. However, the ballistics issue refused to go away as Sacco and Vanzetti waited on death row. In addition, a jailhouse confession by another criminal fueled the controversy. In 1927, Massachusetts Governor A. T. Fuller ordered another inquiry to advise him on the clemency request of the two anarchists. In the meantime, there had been many scientific advances in the field of forensics. The comparison microscope was now available for new ballistics tests and proved beyond a doubt that Sacco's gun was indeed the murder weapon. A defense expert was even reported to have remarked upon seeing the new results, "Well, what do you know about that?" Sacco and Vanzetti were executed in August 1927, but even the new evidence didn't completely quell the controversy. In October 1961, and again in March 1983, new investigations were conducted into the matter, but both revealed that Sacco's revolver was indeed the one that fired the bullet and killed the security guards.

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   1741-birthday of Charles Willson Peale, American portrait painter (best known for his many portraits of colonial and American Revolutionary War figures) was born at Queen Anne County, MD. His children Raphael, Rembrandt, Titian and Sarah were also artists. Died at Philadelphia, PA, Feb 22, 1827. ttp://www.artcyclopedia.com/artists/peale_charles_willson.html/
    1741-birthday of Charles Willson Peale, American portrait painter (best known for his many portraits of colonial and American Revolutionary War figures) was born at Queen Anne County, MD. His children Raphael, Rembrandt, Titian and Sarah were also artists. Died at Philadelphia , PA , Feb 22, 1827.        1783-Peace with Britain until 1812. Through seven long years of warthe longest war the United States ever fought until Vietnam---the army under Washington remained true to the cause. But the spirit of sacrifice even among army men wasnt universal. Desertions became so common that some scheduled attacks had to be canceled for lack of men to fight them; Gelb tells of a general in the South who discovered in the midst of a major assault that the seven thousand troops under his command had dwindled to only three thousand, resulting in a disastrous rout. Its estimated that up to a third of the soldiers in the Revolutionary army deserted. Some left to return home to their families or to join their state militias, but probably most got tired of the war or were scared of dying.
http://memory.loc.gov/ammem/today/apr15.html
    1817-the Erie Canal was authorized. When completed and open for traffic on October 26, 1825, this 360 mile wide canal connecting the waters of Lake Erie at Buffalo with the waters of the Hudson River at Albany, New York became a major transportation hub for the growth of the area.
    1817-Thomas Hopkins Gallaudet and Laurent Clerc founded the first US public school for the deaf, Connecticut Asylum for the Education and Instruction of Deaf and Dumb Persons (now the American School for the Deaf), at Hartford, CT.
    1829-Birthday of Dr. Mary Harris Thompson - U.S. physician. She founded Chicago Hospital for Women and Children and was the first female surgeon in the U.S. She studied a year with the Elizabeth and Emily Blackwell, the first woman doctors. When in training in a regular hospital, she received a great deal of the same kind of sexually harassing ridicule that the Blackwells had received while studying to be doctors.
     1843-birthday of Henry James, novelist and critic, born at New York, NY. Among his best-known works are The Portrait of a Lady, Washington Square and The Ambassadors. James died Feb 28, 1916, at London, England. http://classiclit.about.com/msub-hjames.htm
     1850-birthday of John Longyear, American capitalist, landowner, philanthropist, one-time mayor of Marquette, MI. Disapproving of a railway route through Marquette, he caused his home, a stone castle-like showplace, to be torn down in 1903 and moved, stone by stone and stick by stick, in more than 190 freight cars and re-erected at Brookline, MA. Born at Lansing, MI, he died May 28, 1922.
     1850-First City Charter went into effect as San Francisco was incorporated as a city. During the year ended today 60,244 men and 1979 women arrived in San Francisco.
     1862 -- Thomas Wentworth Higginson receives a letter from Emily Dickinson containing four poems, which launches her "career." Only a few are published in her lifetime.
     1865 - Abraham Lincoln, 16th President of the United States of America, died at 7:22 a.m. Lincoln had been shot in the back of the head the previous evening while attending a performance of "Our American Cousin" at Fords Theatre in Washington, D.C. The assassin, John Wilkes Booth, escaped, only to be hunted down and shot to death. Lincoln was carried to a boarding house across the street from the theatre. He never regained consciousness. This was Booth second attempt, but a change in Theater plans a month earlier thwarted it. When this became known, it was thought the April 14th assassination was planned byna group. In the afternoon of the 15th, Vice-president Andrew Johnson was sworn in as 17th president of the United States. He completed Lincolns term and changed the course of reconstruction. Five days earlier, General Lee had surrendered at the Appomattox Court house, virtually ending the war. It would be eleven days later that General Joseph E. Johnson surrendered the Confederate Army of Tennessee to General Sherman near Durham Station, NC, and a few weeks later, on May 10th, Jefferson Davis was captured at Irwinville, GA, by a contingent of General James H. Wilsons cavalry, led by Lt. Col. Benjamin Pritchard.
    1865-Birthday of Emily Smith Putnam, first dean of Barnard College and the writer of a major historical study of women: The Lady: Studies of Certain Significant Phases of Her History (1910). Both as a dean, a trustee, and a teacher she was one of the great women who developed Barnard into a major educational opportunity for women. She resigned as dean in 1899 to marry and then became a trustee of the college to continue her drive to equalize Barnard's academic relationship with Columbia University. She returned to teaching at Barnard in 1914, permanently retiring in 1930. She authored a number of important historical studies and biographies.
     1869-birthday of Thomas Hart Benton, an artist whose work was indicative of the American style of painting known as Regionalism. His works of life in the Midwest and South were not always flattering to their subjects, but his style became known as a truly American style of painting. He was born at Neosho, MO, and died at Kansas City, MO, Jan 19, 1971898-birthday of trumpet player Theodore Wingie Carpenter, St. Louis, MO http://www.artcyclopedia.com/artists/benton_thomas_hart.html
    1873 - A famous Easter blizzard raged across Kansas, Nebraska and South Dakota. Gale force winds blew the wet snow into massive drifts; however there were few deaths due to the sparse population and due to the gradual increase of the storm.
    1886 - A devastating tornado, 800 yards in width at times, cut a twenty mile path through Saint Cloud MN killing 74 persons. The bottom of the Mississippi River was said to have been seen during the tornado's crossing. Eleven persons were killed at a wedding party near the town of Rice.
    1894 - Birthday of jazz/blues singer Legend Bessie Smith. She was known as the Empress of the Blues. Her voice and songs tore the heart out of her listeners as she demanded they weep, laugh, and then face life as it was dealt. Her first recording, "Downhearted Blues," sold two million copies. She was queen of all she surveyed during the 20s and early 30s but a disastrous marriage and unwise financial decisions left her impoverished. Her more than 150 records are greatness preserved and her one movie St. Louis Blues that was banned for being too realistic is part of the Museum of Modern Art movies section.
Her vocal greatness was recognized early by the great Ma Rainey who hired the 12-year-old to sing in her minstrel review. Like so many of her sister blues singers, the bottle became her refuge in a life that just didn't seem to hang together. Unlike Billie Holiday who went the same disastrous booze and drugs route, her voice continued strong. She died in 1937 after an automobile accident in Mississippi. A white hospital refused her admittance and she died on the operating table of the black hospital some miles away. http://www.blueflamecafe.com/index.html http://bluesnet.hub.org/readings/bessie.html
     1896--Birthday of May Edward Chinn - although considered one of the first Black women physicians in New York City, she was half Amerind. Her mother was a full-blood from the Chickahominy tribe. It was her mother whose respect for education drove her. Her research work led to the development of the Pap smear to detect cervical cancer. She was the first non-white woman to graduate from Bellevue Hospital. For years she was only allowed to practice medicine at Harlem hospital which necessitated her starting her own private practice. During her training she road ambulances as a paramedic, one of the first women to do so in the U.S. Chinn's father escaped slavery from a Virginia plantation at the age of11. MC continued in private practice until she was 81.
     1898--Birthday of Molly McGreethe - U.S. comedic radio actor. During the golden era of radio, she was the Molly of one of its most popular shows, Fibber McGee and Molly. She portrayed the much suffering wife married to a dreaming impractical husband. Well, it was funny on radio.
     1912- The unsinkable luxury liner Titanic on its maiden voyage from Southampton, England, to New York, NY, struck an iceberg just before midnight Apr 14, and sank at 2:27 AM, Apr 15. The Titanic had 2,224 persons aboard. Of these, more than 1,500 were lost. About 700 people were rescued from the icy waters off Newfoundland by the liner Carpathia, which reached the scene about two hours after the Titanic went down. It is reported a ship closer did not come to the rescue due to illegalities aboard. Many movies and documentaries about the monumental disaster have been filmed over the years. However, none had the exacting data gleaned by scientists from the 1986 expedition aboard "Atlantis II". Dr. Robert Ballard headed a crew and a robot named Jason in a descent to the deck of the "Titanic" aboard "Alvin", a submersible craft. They returned with information and photos that challenged and verified stories from the past. After years of studying the facts, the 1997 Academy Award-winning film, "Titanic", recreated the ship to the tiniest detail including the design on the elegant china. Although the films love story is fictitious, the true tragedy of the Titanic can now be seen by the world some eight decades later.
     1917 - Hans Conried (actor: My Friend Irma, Bus Stop, Oh! God: Book 2, Tut & Tuttle, The Monster that Challenged the World; host: Fractured Flickers TV Series and other great cartoons. Also played Uncle Tonoose in The Danny Thomas Show He was a frequent guest on the Jack Paar Tonight Show. A great influence on the humor of This Day in History written by the editor of Leasing News; died Jan 5, 1982. http://www.blockbuster.com/bb/person/details/0,7621,BIO-P+14584,00.html
    1920-birthday of Hilda Simms, American stage and film actress, born Hilda Moses at Minneapolis, MN. She joined the American Negro Theater at Harlem, NY, in 1943 and was given the title role in Anna Lucasta. When the production moved to Broadway in 1944, it became the first all-black production to be performed on Broadway without a racial theme. Simms was the creative arts director of New York State's human rights division, through which she was instrumental in bringing discrimination against black actors to public attention during the 1960s. She died at Buffalo, NY, Feb 6, 1994.
     1920 - Two security guards are killed during a mid-afternoon armed robbery of a shoe company in South Braintree, Massachusetts. Out of this rather unremarkable crime grew one of the most famous trials in American history and a landmark case in forensic crime detection.Police did manage to catch Boda's colleagues, Nicola Sacco and Bartolomeo Vanzetti, who were each carrying loaded weapons at the time of their arrest. Sacco had a .32 caliber handgun-the same type as was used to kill the security guards-and bullets from the same manufacturer as those recovered from the shooting. Vanzetti was identified as a participant in a previous robbery attempt of a different shoe company. Sacco and Vanzetti were anarchists, believing that social justice would come only through the destruction of governments.Sacco and Vanzetti were found guilty and sentenced to die. However, the ballistics issue refused to go away as Sacco and Vanzetti waited on death row. In addition, a jailhouse confession by another criminal fueled the controversy. In 1927, Massachusetts Governor A. T. Fuller ordered another inquiry to advise him on the clemency request of the two anarchists. In the meantime, there had been many scientific advances in the field of forensics. The comparison microscope was now available for new ballistics tests and proved beyond a doubt that Sacco's gun was indeed the murder weapon. A defense expert was even reported to have remarked upon seeing the new results, "Well, what do you know about that?" Sacco and Vanzetti were executed in August 1927, but even the new evidence didn't completely quell the controversy. In October 1961, and again in March 1983, new investigations were conducted into the matter, but both revealed that Sacco's revolver was indeed the one that fired the bullet and killed the security guards.
     1922-birthday of Harold Washington, Illinois legislator and Mayor of Chicago (1983-87). Born at Chicago, IL, and died there Nov 25, 1987. Harold Washington was one of the first African Americans to head a major US city. He was instrumental in tearing down Chicago's famed Democratic machine, a holdover from the many decades of domination by the Richard J. Daley administration.
     1921 - Two mile high Silver Lake, CO, received 76 inches of snow in 24 hours, the heaviest 24 hour total of record for North America. The storm left a total of 87 inches in twenty-seven and a half hours.
     1923 - Insulin became available for general use on this day. It was first discovered in 1922. Today, insulin is used daily in the treatment of diabetes. It is extracted from the pancreas of sheep, oxen and by other means, including systemization in the laboratory. Insulin, a natural and vital hormone for carbohydrate metabolism in the body, is manufactured by the pancreas. An overabundance of insulin causes insulin shock and leads to a variety of symptoms, including coma.
     1923 - Dr. Lee DeForests Phonofilm, the first sound-on-sound film, motion picture, was demonstrated for a by-invitation-only audience at the Rivoli Theatre in New York City. The guests saw "The Gavotte", a man and woman dancing to old-time music and "The Serenade", four musicians who played on wind, percussion and string instruments.
     1927 - Serge Koussevitsky directed the Boston Symphony in the first performance of Frederick Converses symphony, "Flivver Ten Million", a salute to the Tin Lizzie automobile.
     1927 - New Orleans LA was drenched with 14.01 inches of rain, which established a 24 hour rainfall record for the state.
     1933--Birthday of Elizabeth Montgomery - U.S. actor. Although she starred in a number of TV films, she will always be remembered for her portrayal of Samantha in the long running TV series Bewitched (1954-72) (and outliving two husbands on the show).
     1940 - Birthday of Willie (William Henry) Davis (baseball: LA Dodgers [World Series: 1963, 1965, 1966/all-star: 1971, 1973], Montreal Expos, SL Cardinals, Texas Rangers, SD Padres, California Angels)
     1940--Birthday of Ohil Lesh, born in Berkeley, California. Lesh is a bassist and a founding member of the Grateful Dead. After the band's disbanding in 1995, Lesh continued on the tradition of Grateful Dead family music with side project Phil Lesh and Friends, which pays homage to the Dead's music by playing their originals, common covers, and the songs of the members of his band, which changed consistently. Phil and Friends are viewed by many fans as the premier post-Dead band.
     1942 - Birthday of Walt Hazzard (basketball: 1964 Olympic Gold Medallist: U.S. team; LA Lakers, Seattle Supersonics, Atlanta Hawks, Buffalo Braves, Golden State Warriors; UCLA coach)
     1943 - birthday of singer Sam Mighty McClain, Monroe, L http://www.blockbuster.com/bb/person/details/0,7621,BIO-P+14584,00.html
     1945--Lionel Hampton big band, along with gust trumpet player Dizzy Gillespie, play Carnegie Hall, New York City.
    1945-GONSALVES, HAROLD---Medal of Honor
Rank and organization: Private First Class, U.S. Marine Corps Reserve. Born: 28 January 1926, Alameda, Calif. Accredited to: California. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty while serving as Acting Scout Sergeant with the 4th Battalion, 15th Marines, 6th Marine Division, during action against enemy Japanese forces on Okinawa Shima in the Ryukyu Chain, 15 April 1945. Undaunted by the powerfully organized opposition encountered on Motobu Peninsula during the fierce assault waged by his battalion against the Japanese stronghold at Mount Yaetake, Pfc. Gonsalves repeatedly braved the terrific enemy bombardment to aid his forward observation team in directing well-placed artillery fire. When his commanding officer determined to move into the front lines in order to register a more effective bombardment in the enemy's defensive position, he unhesitatingly advanced uphill with the officer and another Marine despite a slashing barrage of enemy mortar and rifle fire. As they reached the front and a Japanese grenade fell close within the group, instantly Pfc. Gonsalves dived on the deadly missile, absorbing the exploding charge in his own body and thereby protecting the others from serious and perhaps fatal wounds. Stouthearted and indomitable, Pfc. Gonsalves readily yielded his own chances of survival that his fellow marines might carry on the relentless battle against a fanatic enemy and his cool decision, prompt action and valiant spirit of self-sacrifice in the face of certain death reflect the highest credit upon himself and upon the U.S. Naval Service.
     1947-Jacking Robinson became the first black American to play in the major leagues in the 20th century when he made his debut for the Brooklyn Dodgers against the Boston Braves. Robinson went 0-for 3 but scored the deciding run as the Dodgers prevailed 5-3.
     1950-Buck Rogers appears on TV. At first a radio show, "Buck Rogers" premiered on ABC with Kem Dibbs. Buck was an average American who woke up from a cave behind Niagara Falls to find himself in the year 2430. The show featured Lou Prentis as Lieutenant Wilma Deering; Harry Sothern as Dr. Huer and Harry Kingston as Black Barney Wade. Buck was later played by Robert Pastene.
     1952-Franklin National Bank, Franklin Square, NY issued the first bank credit card. Purchases were charged to the bank, which made the payments and then billed the card holders. The service was extended to its branches. The first bank credit card to gain national acceptance was the BankAmericard ( later called Visa) issued by the Bank of America, San Francisco, in 1959. There was no membership fee or service charge. Full-scale services were offered to cardholders and merchants. Mastercard, originally called Master Charge, was founded by a consortium of 77 western banks led by the Wells Fargo bank.
     1953---Top Hits I Believe - Frankie Laine Doggie in the Window - Patti Page Till I Waltz Again with You - Teresa Brewer Your Cheatin Heart - Hank Williams
     1955- The first franchised McDonalds was opened at Des Plaines, IL., by Ray Kroc, who had gotten the idea from a hamburger joint at San Bernardino, CA, run by the McDonald brothers. On opening day a hamburger was 15 cents. The Big Mac was introduced in 1968 for 49 cents; the Quarter Pounder in 1971 for 53 cents. There are more than 25,000 McDonalds in 115 countries.
     1956 - General Motors announced that the first, free piston automobile had been developed.
     1956-Mitch Miller, music director of Columbia Records, engages in a spirited debate with Allan Freed over the "potentially negative effects of Rock 'n' Roll on teenagers" on Eric Sevareid's news program on CBS-TV. Two psychiatrists also joined the discussion.
     1958-major league baseball came to California as the San Francisco Giants, transplanted from New York, The Polo Grounds, Manhattan,The Bronx, to be exact, opened the season against the Los Angeles Dodgers, formerly of Brooklyn, at San Franciscos Seals Stadium. The Giants shut out their rivals, 8-0.
     1961---Top Hits Blue Moon - The Marcels Apache - Jorgen Ingmann Dedicated to the One I Love - The Shirelles Dont Worry - Marty Robbins
     1966-Fifth-Annual San Francisco State College Folk Festival with Malvina Reynolds, Mark Spoelstra, & Richard ("Been down so long it looks like up to me") & Mimi Fariña, The Blues Project, Doc Watson & others. ~Poster artist: Michael Ferguson, From The Art of Rock.
     1966-The Rolling Stones release "Aftermath", their first LP to feature all original material.
     1967-The first mass burning of draft cards occurred as 400,000 marched in New York City opposing the Vietnam War. It was the culmination of the April 10-15 Vietnam Week featuring draft card burnings and turn-ins and anti-draft recruiter demonstrations all over the country. In NY speakers included Dr Martin Luther King, Jr., Floyd McKissick, Stokely Carmichael and Dr Benjamin Spock In San Francisco, 100,000 people marched from Second and Market to Kezar Stadium at Golden Gate Park. Vietnam veteran David Duncan gave the keynote speech.
     1967-Nancy and Frank Sinatra had the #1 song on the Billboard Hot 100, "Something Stupid", To this day, they are the only father and daughter team to have a US chart topping single. ("Unforgettable" by Natalie Cole and Nat "King" Cole reached #14 in 1991, recorded posthumously with her father.)
     1967-Birthday of Dara Torres - U.S. swimmer. Dara Torres is the only American woman to win a swimming medal at three consecutive Olympics - and then added a fourth in the 2000 Olympics at age 33.
    1967-The Who's second album, "Happy Jack," was released in the US. The LP contained a ten-minute mini-opera, "A Quick One," which was also the album's title in Britain.
     1969---Top Hits Aquarius/Let the Sun Shine In - The 5th Dimension Youve Made Me So Very Happy - Blood, Sweat & Tears Galveston - Glen Campbell Woman of the World (Leave My World Alone) - Loretta Lynn
     1971 - George C. Scott refused the Oscar for his Best Actor performance in "Patton" at the 43rd Annual Academy Awards ceremony at LAs Dorothy Chandler Pavilion. He had previously told reporters that he did not want the honor, saying (after the votes had been cast and tallied), It is degrading to have actors in competition with each other. Scott called the Oscar ceremony, a two-hour meat parade, a public display with contrived suspense for economic reasons. Others who did accept the golden statuette as recognition for their works that evening include: Glenda Jackson, Best Actress ("Women in Love"); Helen Hayes, Best Supporting Actress ("Airport"); John Mills, Best Supporting Actor ("Ryans Daughter"); Fred Karlin (music), Robb Royer and James Griffin (lyrics), Best Music/Song, "For All We Know" from "Lovers and Other Strangers"; and Franklin J. Schaffner, Best Director ("Patton") ... "Patton" (Frank McCarthy, producer) also received the Best Picture honors. Other notable flicks from 1970 (some Oscar winners, some not): "Five Easy Pieces", "Love Story", "MASH", "Tora! Tora! Tora!", "Diary of a Mad Housewife". http://www.infoplease.com/ipa/A0149177.html
    1972--Roberta Flack's "The First Time Ever I Saw Your Face" became an unlikely number one hit after it was featured in the Clint Eastwood film Play Misty For Me. It had been originally released as an album cut three years earlier. After Eastwood included it in his film, Atlantic Records rush released it as a single.
     1973 - The richest womens golf tournament held (to that day) was won by Mickey Wright. She won the $25,000 first prize in the Colgate-Dinah Shore Golf Classic in Palm Springs, CA.
     1974-Kidnapped heiress Patricia Hearst is filmed participating in a bank robbery, along with 8 other members of the SLA (Symbionese Liberation Army), in Sacramento, California.
    1977---Top Hits Dancing Queen - Abba Dont Give Up on Us - David Soul Dont Leave Me This Way - Thelma Houston Lucille - Kenny Rogers
    1980 - Country star Willie Nelson held two fundraising concerts in Atlanta, Georgia, for Jimmy Carter's US presidential campaign.
    1985 - Marvelous Marvin Hagler helped Thomas the Hit Man Hearn go nighty-night a littler earlier than expected, with a third round knockout to retain the world middleweight boxing title. Some have called the fight, the greatest three rounds in boxing history.
    1985---Top Hits We are the World - USA for Africa Crazy for You - Madonna Nightshift - Commodores Honor Bound - Earl Thomas Conley
    1988 - A weather disturbance off the southern coast of California brought parts of southern California their first rain in six weeks. Rain-slickened roads resulted in numerous accidents in southern California, including a ten car pile-up at Riverside.
    1989-Roy Orbison had his final Top 10 single on the US chart with "You Got It", four months after he passed away. The song was written by Jeff Lynne and Tom Petty and appeared on Orbison's "Mystery Girl" album that was released posthumously.
    1990- In Living Color premiered on TV. Fox's sketch comedy series was modeled after "Saturday Night Live." The show was created by Keenen Ivory Wayans. Between skits, the Fly Girls would entertain the studio audience with hip dances (actress Rosie Perez choreographed the dances before breaking into movies). The show featured Wayans, his brothers Damon, Marlon and Shawn, his sister Kim, Tommy Davidson, David Alan Grier, T'Keyah "Crystal" Keymáh, Kelly Coffield, Kim Coles and Jim Carrey before he was Ace Ventura. Some of the most popular recurring characters were Homey, the embittered clown, the flammable Fire Marshall Bill and the effeminate movie critics of "Men on Film."
     1996 -- The rest of Jerry Garcia's ashes are scattered near the Golden Gate Bridge in San Francisco. A small portion had been scattered in the Ganges River in India 11 days ago.
     1997-in ceremonies marking the 50th anniversary of the debut of Jackie Robinson in the major leagues, Bud Selig, chairman of baseballs Executive Committee, announced that Robinsons uniform number 42 would be retired by all major league teams. Players then wearing 42 were allowed to continue to do so, but no team would ever assign 42 again.
     1998-The New York Yankees and the New York Mets each played a home game at Shea Stadium, with the Yankees defeating the Anaheim Angeles, 3-2, in the afternoon, and the Mets beating the Chicago Cubs, 2-1, at night. This unique doubleheader was occasioned by a structural accident at Yankee Stadium. a 500- pound steal beam fell from the upper deck on April 14, forcing New York City to close the park temporarily for inspection and repairs. The Yankees returned to their own home on April 25 beating the Detroit Tigers, 8-4.
     1999- Astronomers from San Francisco State University working at an observatory n Arizona announced the discovery of the first multi-planet system ever found orbiting around a star other than our own. Three planets orbit the star Upsilon Andromedae, which can be seen with the naked eye. This suggests that the Milky Way probably teems with similar planetary systems.

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